Buffalo Nickel (1913–1938)

James Earle Fraser's Buffalo nickel is one of the most recognizable American coins: a Native American portrait on one side, an American bison on the other, and almost no empty space on either. It circulated for decades, which is why so many surviving coins are heavily worn and why condition and date legibility matter so much to value.

This guide covers the series' history, how the design wears, the diagnostics graders use, the dates collectors look for, and how Buffalo nickels trade on Changes Hands.

Quick facts

Years	1913–1938 (none struck in 1922, 1932 or 1933)
Designer	James Earle Fraser
Denomination	5 cents
Composition	75% copper, 25% nickel
Weight	5.00 g
Diameter	21.21 mm
Mints	Philadelphia (no mint mark), Denver (D), San Francisco (S); mint mark on the reverse below FIVE CENTS
Edge	Plain

History: a nickel that broke with tradition

The Buffalo nickel replaced the Liberty Head nickel in 1913, part of a wider effort in the early twentieth century to give American coins real artistic ambition. Fraser, a sculptor who had studied under Augustus Saint-Gaudens, proposed a coin with distinctly American subjects rather than an allegorical Liberty.

The first coins showed the bison standing on a raised mound, with FIVE CENTS on the mound itself. That lettering sat on a high point and wore away quickly, so within months the Mint recut the reverse: the bison now stands on a flat line, with FIVE CENTS recessed beneath it. Collectors call these Type 1 and Type 2, and both exist for 1913 at all three mints. The design ran until 1938, when the Jefferson nickel replaced it.

The design and its weak points

Fraser described the portrait as a composite of several Native American men he had met. His initial F sits just below the date. The coin carries no IN GOD WE TRUST motto, which was not then required on the nickel. The bison fills almost the entire reverse, with its head lowered and its horn pointing toward the rim.

The design's beauty is also its flaw. The date sits on a raised shoulder, one of the first places to wear, and on coins dated up to the mid-1920s it often wore away completely in circulation. LIBERTY runs along the upper rim and merges with it early. That is why dateless Buffalo nickels are so common, and why a full, readable date is the first thing anyone checks.

How to grade a Buffalo nickel

Wear shows first on the Indian's cheekbone, the hair above the braid and the date, and on the bison's horn, head, shoulder and hip. Under the Changes Hands Grading Standard, graders look at a short list of named diagnostics, and a coin must meet every one on both sides to earn a band:

Good: all four date digits readable without magnification, both figures outlined. The horn may be gone and LIBERTY may touch the rim.
Very Good: date bold, at least the base and half the length of the horn visible, three or more letters of LIBERTY clear of the rim.
Fine: at least three-quarters of the horn, LIBERTY complete with every letter separate from the rim, some lines in the braid.
Very Fine: the full horn from base to tip, a detailed braid, and distinct fur on the bison's head and shoulder.
Extremely Fine: a sharp horn including the tip, with wear only on the cheekbone, hair above the braid and the bison's high points.

Strike versus wear

Many Denver and San Francisco coins from the 1920s left the press weakly struck on the horn, the hair and the date. A weak strike is not wear: the metal there still shows original mint texture. Graders tilt the coin under a single light to tell the two apart, and only a weak area with unbroken luster can be excused. Expect a strong, sharp 1920s branch-mint coin to be worth more than a typical one at the same grade.

Problems to watch for

Dateless coins are often treated with an acid that etches the date back into view. The result shows as a dark, frosty patch around the date, and such coins are classed as damaged rather than graded. Added mint marks are the other common trap: a D or S glued or tooled onto a Philadelphia coin to imitate a scarcer issue. Cleaned nickels look unnaturally bright for their wear, often with fine parallel hairlines. If a key date looks too good to be true at the price, have it certified.

Buying and selling Buffalo nickels on Changes Hands

Common Buffalo nickels trade in house-graded pools. Common dates 1934–1938 in Fine, for example, accepts any Philadelphia, Denver or San Francisco coin of those years that meets the Fine band; the earlier Philadelphia dates have their own mid-date pool such as 1913–1931 in Very Fine. Scarcer issues trade by date, including 1926-S in house Good and the 1937-D 3-Legged in PCGS XF40. Coins without a readable date go to the dateless bulk class.

Buyers pay no fees. Sellers pay 3% plus a one-time grading fee, and only when the coin sells. Coins stay in insured custody, so a trade moves ownership without moving the coin. See how it works or start a submission.

Key dates

Date	Why it matters
1913-S Type 2	The lowest mintage of the Type 2 design, about 1.2 million. Watch for an S added to a Philadelphia coin.
1914/3	An overdate that needs attribution against reference images; easy to claim, hard to prove.
1916 Doubled Die Obverse	Strong doubling on the date and LIBERTY. A major rarity and a counterfeiting target.
1918/7-D	The best-known Buffalo overdate. The 7 under the 8 fades fast with wear, so attribution needs care.
1921-S and 1924-S	Low-mintage San Francisco issues that are scarce in mid grades and often weakly struck.
1926-S	About 970,000 struck and very hard to find well struck. A frequent target for added mint marks.
1936-D 3½-Legged	A die-polishing variety with part of the right front leg missing. Attribute only against references.
1937-D 3-Legged	Over-polishing removed the right front leg. Genuine coins show a smooth field and a line of raised dots below the belly; fakes are often ground down.

Buffalo Nickel markets

Frequently asked questions

How can you tell if a Buffalo nickel is valuable?

Start with the date and mint mark: a readable date is the minimum, and Denver or San Francisco coins from 1913 to 1927 are generally scarcer than Philadelphia ones. Then check condition, especially the horn, and look for famous varieties such as the 1937-D 3-Legged and 1918/7-D. Problem-free surfaces matter as much as the grade. This is general information, not investment advice.

What is a 1937-D three-legged Buffalo nickel?

It is a Denver coin struck from a die that was polished too aggressively, removing most of the bison's right front leg. Genuine examples show a smooth, die-polished field where the leg should be and a short trail of raised dots under the belly. Many fakes are normal 1937-D coins with the leg scraped off, so buy them certified or house-graded after authentication.

Why do so many Buffalo nickels have no date?

The date sits on one of the highest points of the design and wears away quickly in circulation. Coins dated before about 1925 lost their dates especially fast. Dateless coins still have some collector demand but trade in bulk, and acid-restored dates are treated as damage.

What is the difference between a Type 1 and Type 2 Buffalo nickel?

Type 1 coins, from early 1913 only, show the bison on a raised mound with FIVE CENTS on the mound. Type 2 coins, from later in 1913 through 1938, show the bison on a flat line with FIVE CENTS recessed below it so it would not wear off.

Is a Buffalo nickel made of silver?

No. Buffalo nickels are 75% copper and 25% nickel and weigh 5 grams. Their value comes from collector demand, not metal content.